UAE Tourism Investment Risesas Emirates Development Bank Backs SMEs
Government-backed funds and banks are widening access to finance as tourism ventures scale for peak winter demand.
Entrepreneurs building tourism ventures in the UAE are leaning into peak winter demand as national lenders and support programmes expand access to finance. Investment activity is gaining pace as government-backed funds and banks roll out capital, training and incentives aimed at start-ups and SMEs, with a focus on job creation and scaling capacity during the high season.
In Abu Dhabi, the Khalifa Fund for Enterprise Development continues to anchor early-stage support. Established in 2007 and expanded nationwide in 2011, the fund has created more than 15,000 jobs, supported over 5,000 members and provided more than Dhs 1.4 billion to over 1,200 companies. Its start-up financing can cover up to 80% of establishment costs, with repayment periods of up to 84 months and grace periods of up to 24 months. In 2024, the fund delivered entrepreneurship training to 5,658 applicants and group advisory sessions to 613 participants.
Dubai’s Mohammed bin Rashid Establishment for SME Development is targeting the creation of around 8,000 companies over the next eight years, aiming to support 27,000 Emirati businesses by 2033, up from 19,000 by the end of 2024. Total incentives since inception have exceeded Dhs 800 million. Its financing arm funded 44 projects in 2024 worth Dhs 35.17 million, bringing cumulative financing since 2015 to Dhs 137 million across 168 projects. The Hamdan Innovation Incubator supported 66 entrepreneurs last year, taking its total to 826 start-ups.
In Sharjah, the RUWAD programme reports 1,909 members, 9,724 trained participants and 106 financed projects. It has also launched a smart application to streamline access to financing, training and events. At the federal level, Emirates Development Bank has provided Dhs 30 billion in financing since 2015, supported more than 13,500 companies and contributed Dhs 10 billion to GDP. In October, the bank introduced new entrepreneurship packages, including digital tools, mentoring and access to incubators.
